Seafood exports to the Republic of Korea (RoK) has so far this year valued at 300 million USD, showing a year-on-year increase of 13.5 percent. The figure accounted for 8.2 percent of the total country’s export value.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the RoK is currently the fourth largest importer of Vietnam’s seafood and is said to be a potential market of Vietnam.
Apart from shrimp, cuttlefish, octopus, cephalopod and bivalve mollusc, tuna is increasingly becoming favoured by Korean customers.
In the first seven months of this year, tuna earned nearly 5 million USD from the market for Vietnam, making a strong increase compared to the same period last year.
According to experts, seafood exports to the RoK is easier than other traditional markets thanks to improvements in the two countries’ trade relations and especially the RoK government’s financial and information support for Vietnamese seafood exporters.
Besides, the realisation of commitments of opening the market under the ASEAN-Korea Free Trade Area has offered Vietnamese seafood exporters more opportunities in the RoK market./.